Abstract. We present a compositional verification technique for systems that exhibit both probabilistic and nondeterministic behaviour. We adopt an assume-guarantee approach to verification, where both the assumptions made about system components and the guarantees that they provide are regular safety properties, represented by finite automata. Unlike previous proposals for assume-guarantee reasoning about probabilistic systems, our approach does not require that components interact in a fully synchronous fashion. In addition, the compositional verification method is efficient and fully automated, based on a reduction to the problem of multi-objective probabilistic model checking. We present asymmetric and circular assume-guarantee rules, and show how they can be adapted to form quantitative queries, yielding lower and upper bounds on the actual probabilities that a property is satisfied. Our techniques have been implemented and applied to several large case studies, including instances where conventional probabilistic verification is infeasible.